4 Reasons Why Cybersecurity Is Important

Updated on January 24, 2023
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Cybersecurity is becoming a primary concern as businesses become more reliant on technology. This reliance has positive business outcomes, but these outcomes come with the potential risk of cyberattacks. Sensitive information is at risk whether in use or transit. So, companies must address cyber threats to protect their data and systems.

Cybercrime can take many forms, from viruses, network intrusions, and piracy to identity thefts. These cybersecurity threats need robust technical security protocols and skilled professionals to shield computing resources, network systems, and sensitive data.  

How to get started?

Cybersecurity as a skill is in demand nowadays, with employers seeking skilled professionals to protect their computer systems against malicious attacks. The Bureau of Labor Statistics BLS projects an increase of 15% in cybersecurity jobs from 2021 to 2031. This projection is much faster than average for all occupations. Aspiring professionals can enroll in an online bachelors in cybersecurity to learn the skills and know-how to land cybersecurity jobs.

With a professional degree, students will be ready for high-paying jobs with long-term growth potential. They can land a successful career in today’s leading organizations by understanding technical and managerial aspects, hardware/software systems, digital forensics, and investigation.

Why is cybersecurity important?

Our digital devices are vulnerable to cyberattacks, and so is the data stored on them. Cybersecurity protocols are now becoming part of nearly every business to ensure the security of sensitive information. Here are some more reasons why cybersecurity is important:

1. Digitization of data

The unprecedented surge in data generation, collection, and analysis ultimately lead to data digitization. Converting data into digital formats is a must-have for all businesses, whether it is data processing, storage, or data transmission. This transition has transformed the global business world by creating more opportunities and generating more revenue.

Businesses rely more on the cyber world through this global connection, making their systems and data more vulnerable to cyber threats. While taking steps to execute their business strategies and drive performance, organizations are leading to cyber risks. This includes acquisitions, mergers, the inclusion of third-party networks, outsourcing, and cloud computing.

The inability to build sound technological systems that ensure safe communication and data sharing within and outside the organization poses serious threats with potentially catastrophic implications. A comprehensive strategy to identify cyber threats, quantify their impact, and prioritize them is crucial to provide practical solutions and security protocols.

2. Increase in volume and complexity of cyberattacks

One of the compelling reasons to ensure cybersecurity through advanced technological systems and skilled professionals is the sheer number of cyberattacks that take place now. These are expected to grow by 15% per year over the next five years.

Small to medium-sized businesses are more vulnerable to frequent, complex, and targeted cyber-attacks. These attacks not only disrupt normal operations, but also cause damage to crucial data and infrastructure, leading to significant financial losses.

By understanding the target and its consequences, businesses can minimize the potential, gain an edge in cybersecurity endeavors and even help prevent future risks. These efforts include reducing data transfers, downloading carefully, updating software, monitoring data leaks, and developing a comprehensive breach response plan.

3. Cyber espionage – an economic issue:

Cybercrime is a serious problem having various significant impacts on countries worldwide. Cybercrime damages will cost $10.5 trillion by 2025. Their potential targets include individuals, corporations, and governments, and the most critical hits include:

  • economic destitution
  • theft of intellectual property
  • loss of sensitive data 
  • loss of revenue.

Businesses need to take the potential impact of cybercrime more seriously. The main drivers of this growth include:

  • the easy accessibility of cybercrime tools
  • the quick adoption of new technologies by cybercriminals
  • the increasing number of cybercrime centers.

Cyberterrorism is prevalent in countries with weak legislation and regulations, which creates problems for countries worldwide. To deal with this, the international community must take serious action against countries that have become havens for these crimes.

4. Cyberattacks are inevitable

Cyberattacks, if done successfully, can lead to massive damage, affecting the businesses’ overall standing. The most common are phishing, malware as a service (MaaS), ransomware, business email compromise (BEC), and distributed denial of service (DoS). As cyber criminals get innovative, businesses must identify emerging trends and devise effective strategies to fight them.

The best way to deal with this situation is the ideal workforce, well-prepared and well-equipped to recognize and adapt accordingly to minimize the impact. But businesses need to emphasize the training and education of employees on evolving security risks to avoid making things worse.

Businesses should think and invest in data literacy and apprenticeship programs to successfully counter these attacks. This will provide employees with long-term data skills, a must-have in today’s technological and highly vulnerable working environment.

FAQS:

1. What are the main benefits of investing in cyber security?

The right software with the right capabilities can effectively strengthen cybersecurity teams and organizational defenses, ensuring companies and professionals are ready to defend against existing and emerging threats.

2. What are the benefits of hiring cyber security-trained professionals?

An effective security system using technical strategies and tools is crucial to secure an organization’s data and resources. Cybersecurity professionals have adequate training to assist employers in developing these secure enterprise IT frameworks.

3. What are the potential cyber threats?

Cyber threats include malware, phishing, distributed denial of service (DoS), man-in-the-middle (MIIT) attacks, SQL injection, business email compromise (BEC), and more. They aim to gain unauthorized access, damage, disrupt or steal sensitive data and intellectual property.

4. Is cybersecurity a promising career?

Yes, cybersecurity is a promising career. Employers seek skilled professionals to protect their computer networks from expected cyberattacks and unauthorized access. According to BLS, job prospects will increase by 15% over the next five years.

Conclusion

Technological advancement has made computer systems and sensitive data vulnerable to cyberattacks, which makes cybersecurity a considerable risk. Cyberattacks are inevitable, and businesses need robust security protocols and cybersecurity professionals to anticipate threats, deal with vulnerabilities, and protect against hacks.

Article by:
Erwin Valles

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